Alps Advisers Inc., an asset manager based in Denver, has completed its acquisition of the Liberty All-Star Funds management business from Banc of America Investment Advisors Inc.
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The family consists of two closed-end equity funds - the Liberty All-Star Equity Fund, with $1.3 billion of assets, and the Liberty All-Star Growth Fund, with $156 million as of Nov. 30.
The investment managers who manage the funds will become employees of Alps Advisers, the buyer said. The deal was announced in September; the closing was announced Tuesday.
